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Tom :

11 Jul 2012 1:38:26pm

One thing that many countries leaders have in common? Their own personal power comes first. Don't blame it on me. Blame it on Obama.

Meanwhile Obama will only go after high profile fraud cases that he can score political points with. He did say that this stuff is immoral, questionable, and possibly unethical. But not illegal. Spoken like a lawyer.

A Monotheist :

12 Jul 2012 1:09:31pm

Hello Everyone:

Allah deprives usury from any real growth (Quran).

GFC was a motif sequential to many others, each of which was highly adrenaline gushing. It has pushed the world to the threshold of a new era. Therefore, it must be seen as the part and parcel of the first decade.

As far as the losidedness of economy growth in the East Asia is concerned, it is not new to capitalism. The states of the U.S. have been suffering from this through its history.

But what should have grapled our attention is the sinisterly creeping nature of this decade. For, everyone knows nothing has been resolved and yet a kind of silence or let say calming, no, numbing is putting the anxiety of GFC to bed.

A few weeks ago, just after the Spanish have recieved the approval from the Eurozone for $80 billion bailout, some top Spanish and German banks had reduced their reserved capitals in order to boost their capacity for lending more money. The very practice which has landed them in the very mess they are trying to get out of. Then, of course, you had the Barcly's rate fixing apparently under the auspicious noses of the British Labor and Liberal parties.

I don't understand! How long it must take until people accept that, capitalism has become a liabality to the world economy. Look what is happening. The U.S. foreign policies like it financial policies pushing the emerging economies to find other ways of conducting their trades.

The Chinese are pushing to trade, not in the U.S. dollar, but other currencies. The U.S. on the other hand is worried that, if its currency be no longer dominant, its foreign policies will no longer be effective. It will not be able to set embargo on other economies. Meanwhile, the Chinese have no other option but to press forward; otherwise the U.S. monitary easing policies will lead to loosing the advantage which they have over their foreign reserve.

A country like Australia conducts trade with China using the U.S. currencies. This add to the cost of conducting the businese because, like buying everything else, buying the U.S. currency add to the cost of trading. Because it has to buy the U.S. currency in order to buy other things from China or other countries.

My friend capitalism is based on usury and the U.S. is its biggest beneficiary.

Stop paying usury, not only things become cheaper, but also the U.S. can't boss you around.

By the way, if today the U.S. and European economy collapse the world economy won't go into recession. Some people are trying to give such impression to hold on to the current corrupted system.

Joan Horrid :

15 Jul 2012 7:33:51pm

The GFC, which has barely gotten going, was the inevitable result of capitalist pleonexia. Marx predicted it, and the Internet was alive with quite precise descriptions of what was coming. The idea that 'no-one saw it coming' is only true for the Rightwing MSM propaganda system, where selective blindness, lack of intellectual curiosity (or capacity) and groupthink are requirements for a happy career path. Basically, if you impoverish the serfs (US median wages have been stagnant for forty years) and transfer 10% or so of GNP to the parasite class, they will use that money for speculation. The return on productive investment has been falling, as Marx foresaw, while the returns from financial grifting have been rising. The absence of conscience, empathy for the victims and all moral scruples amongst the bankster caste ensured a tsunami of crime, all of which Obama, financed as he is by Wall Street, has turned a Nelson eye to. The crooks, with the trillions gifted them by bankster alumni like Bernanke and Geitner are back to their tricks already, so we will see another detonation soon. Pretty soon thereafter the entire corrupt mechanism will collapse, as populations grow tired of being crucified on a cross of debt.